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Published
Aug 20, 2018
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Flipkart's financials will now be reported as part of Walmart's International segment

Published
Aug 20, 2018

After Walmart announced that its 77 percent acquisition of Flipkart has been completed, the business has revealed that Flipkart’s financials will henceforth be reported as part of Walmart’s International Business segment.

Walmart has revealed that Flipkart’s financials will henceforth be reported as part of Walmart’s International Business segment - Flipkart- Facebook


“Walmart and Flipkart will achieve more together than each of us could accomplish separately to contribute to the economic growth of India, creating a strong local business powered by Walmart,” said Judith McKenna, president and CEO of Walmart International in a statement about the finalised deal.

“Our investment will benefit India by providing quality, affordable goods for customers, while creating new skilled jobs and opportunities for suppliers.”

Although Flipkart will report its financial results as part of Walmart’s, Flipkart’s current management team will continue to run the business for the foreseeable future, as Walmart has consistently stated.

The team includes Flipkart’s CEO Kalyan Krishnamurthy. Walmart and Flipkart will also retail their separate brand identities in India and continue to use their respective current operating structures.

The $16 billion (Rs 1 lakh crore) deal has allowed Walmart to acquire a 77 percent stake in Flipkart and become the business’ main shareholder.

The deal has been met with protests across India including mass protests organised by the Confederation of All India Traders (CAIT) who fear the deal will harm domestic businesses.

However, the deal has now gone through and now the two largest e-commerce platforms in India, Flipkart and Amazon India, are owned by US-based businesses.

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